Garlic Extract Market Scope
Market Research Future (MRFR) projects the garlic extract market to escalate at a sluggish rate of 3.8% from 2022 to 2030 (analysis period).
Market Segmentation
Garlic extract market insights have been segmented with respect to product form, application, and distribution channel.
The different product forms are granulated, powdered, pasted, oiled, and more. The highest gainer in the market is the paste segment, as this form is majorly used as a cooking ingredient to infuse a unique flavor as well as aroma in the dish.
Major applications of garlic extract include cosmetics, food and beverages, and pharmaceuticals. The food and beverage sector forms the biggest segment, wherein garlic extract is used in beverages, condiments, sausage, seasoning, spices, and many more. It is an essential cooking ingredient that not only adds flavour but also offers a host of health benefits to the consumer.
Store-based as well as non-store-based are the key distribution channels considered in the report. The store-based distribution channel takes the lead, as consumers prefer the convenient shopping experience offered by these retail outlets.
Primary Boosters and Deterrents
Garlic plant has always been perceived as a health inducing ingredient and is therefore, used extensively as an anthelmintic, anti-infective, antihypertensive and rubefacient. Garlic extract is derived from the garlic plant, which is mostly found in Mainland China and India and is exported to other regions. Since it is largely consumed as a flavoring agent and condiment, the incredible growth of the food and beverage sector has resulted in significant demand.
Fresh and aged garlic extracts are generally rich in active antioxidants as well as cholesterol-lowering properties. As a result, they are used as antioxidants, anti-ageing and anti-dandruff agents, antimicrobials, insect repellents, and healing and purifying agents. Moreover, their daily consumption has been proven effective in preventing cardiovascular and atherosclerosis diseases. Garlic extract’s multiple applications in the food, cosmetics, personal care, and pharmaceutical industries have fostered its market growth to a large extent.
Furthermore, garlic extracts also act as effective flavoring agents in a variety of fast-food preparations including pizza, pasta, noodles, and many others. Thus, the rising fast-food intake has bolstered the demand and use of garlic extracts. Moreover, the surge in health-conscious population focused on wellbeing are creating a huge demand, since garlic extracts also help foster the immune system, reduce cholesterol and more. These properties have also led to higher use of garlic extracts market in a number of functional drinks by major brands trying to widen their geographical presence and customer reach.
Eminent Firms
The most important contenders profiled in the MRFR study of the garlic extract market include NOW Foods (U.S.), NILON'S. (India), Dabur (India), McCormick Company, Inc. (U.S.), Woolworths Limited. (Australia), Mars Incorporated (Australia), to mention a few.
Following the COVID-19 outbreak, companies have been focusing on rearranging their supply chains while trying to recover from the financial restrains brought on by the pandemic. The pandemic led to remote working, as well as closure of several commercial activities, which negative affected sales of food products like garlic extracts. However, players have remained resilient and continue to adopt strategic initiatives such as acquisitions, exhaustive RD, product innovation, and mergers.
Regional Outlook
The key garlic extract markets are in North America, Asia Pacific (APAC), Europe, and the rest of the world (RoW).
APAC is the world's biggest market for garlic extracts, thanks to the rapidly burgeoning pharmaceutical sector and the exploding populations in China and India. The escalating health awareness among consumers also adds to the market value in the region. Acquisitions and mergers between the top garlic extract developers and suppliers have emerged as the latest trend in the region, which is bound to create growth avenues for the market in the ensuing years. Also, garlic extra is used extensively in the preparation of a variety of cuisines, especially in Malaysia, India, and Singapore, which can favour the regional market in the years to come. Some of the food preparations in which garlic extracts are used include pickles, chutneys, curried vegetables, curry powders, tomato ketchup, and meat and meat product preparations, to name a few.
The European garlic extract market outlook is led by the U.K. and the Netherlands, where more and more consumers are exploring new cuisines, in line with the rising immigration rate. Some of the top macroeconomic growth boosters can be the expanding population, high domestic income, and the high urbanization rate in the region. Most of the top manufacturers are focused on carrying out extensive research and development activities to produce garlic extracts that adhere to regulatory standards while also catering to consumer taste.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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